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HSBC plans callable accelerated market participation notes on S&P 500
By Marisa Wong
Milwaukee, Jan. 27 - HSBC USA Inc. plans to price 0% callable accelerated market participation securities due Feb. 3, 2012 linked to the S&P 500 index, according to a FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain.
Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% it declines if the decrease is more than 25%.
The securities will be redeemable at HSBC's option in whole, but not in part, on Feb. 4, 2011 at a price between 107% and 107.5% of the principal amount.
The securities will price on Jan. 29 and settle on Feb. 3.
HSBC Securities (USA) Inc. is the agent.
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